1. A director of planning or a governing body may extend the period for which a building permit for a residential or commercial project is valid if the person to whom the permit has been issued: (a) Applies for an extension before July 1, 2013, subject to any applicable ordinances or regulations adopted by the governing body; (b) Demonstrates to the satisfaction of the director of planning or governing body that: (1) Financing for the residential or commercial project is not available; and (2) The land will be leased for a renewable energy generation project; and (c) Submits with his or her application for an extension an affidavit showing that due diligence has been used to obtain financing for the residential or commercial project. The affidavit must include, without limitation, evidence that: (1) The project was denied financing by at least two lenders; or (2) The person was unable to issue bonds or other securities to finance the project. 2. A building permit that is extended pursuant to subsection 1 must not be effective: (a) For more than 15 years after the original expiration date of the building permit; or (b) If the land ceases to be leased for a renewable energy generation project, after the period established by the director of planning or governing body pursuant to subsection 3. 3. If a director of planning or governing body extends the period for which a building permit is valid pursuant to subsection 1, the director of planning or governing body shall establish the maximum duration of the period for which the permit will remain valid if the land is no longer leased for a renewable energy generation project. 4. If a director of planning or governing body extends the period for which a building permit is valid pursuant to subsection 1: (a) No condition may be placed on the permit that was not imposed on the original permit; and (b) Except as otherwise provided in subsection 5, the ordinances, resolutions or regulations applicable to the land and governing the permitted uses of the land, density and standards for design, improvements and construction are those in effect at the time the building permit is issued. 5. Changes to ordinances, resolutions or regulations that enforce environmental, life or safety standards against parcels of land that the director of planning or governing body determines are similar to the land for which the building permit was issued will apply to the parcel of land for which the permit was issued. 6. As used in this section, environmental, life or safety standards includes, without limitation: (a) Standards and codes relating to the usage of water; and (b) Any specialized or uniform code related to environmental, life or safety standards.
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